Fund (IMF) as the biggest economy in Africa — ahead of
South Africa and Egypt.
In August 2016, Nigeria was reported to have lost its spot
as Africa’s biggest economy to South Africa, following the
recalculation of the country’s gross domestic product
(GDP).
“A recalculation using current exchange rates put South
Africa on top because the rand has strengthened against
the dollar,” BBC had said in August.
“Based on gross domestic product at the end of 2015
published by the International Monetary Fund, the size of
South Africa’s economy is $301 billion at the rand’s
current exchange rate, while Nigeria’s GDP is $296 billion,”
Bloomberg had also said.
But according to TheCable, latest estimates from the IMF
however put Nigeria’s GDP at $415.080 billion, from
$493.831 billion at the end of 2015.
The IMF World Economic Outlook for October 2016 puts
South Africa’s GDP at $280.367 billion, from $314.732
billion a year earlier.
Egypt’s 2016 data was reported as not available, but its
2015 size remained at $330.159 while that of Algeria, one
of the largest economies on the continent, was put at
$168.318 billion.
The United States, China and Japan maintained their spots
as the largest economies in the world, with a GDP of
$18.561 trillion, $11.391 trillion and $4.73 trillion
respectively.
These countries are being trailed by Germany, United
Kingdom and France in that order.
The Managing Director of the IMF, Christine Lagarde, said
at the just concluded World Bank/IMF meetings that global
growth had been too slow for too long.
“We continue to face the problem of global growth being
too low for too long, benefiting too few,” she said after the
world economic outlook was published.
The world expects an economic growth of 3.1 percent in
2016, reviewed from 3.4 percent.

http://www.thisdaylive.com/index.php/2016/10/19/imf-affirms-nigeria-as-africas-biggest-economy/

We are back on top and who gets the credit?

Paper soft work

Saying the obvious

WowSweetGuy:
Paper soft work

Whatever it is doesn't matter much now but the news is good.

Adagworo:



how will this help imo state when owerri is now a rural area.

Bro Rochas don enter your trap

Adagworo:



how will this help imo state when owerri is now a rural area.

Even South Africa knows....they have investments here...how much investments Nigeria has in South Africa, I know not!

Africa biggest economy in recession ? The IMF loan given to Nigeria is talking.

Abagworo:


Whatever it is doesn't matter much now but the news is good.

for pride sake

LordIsaac:

Even South Africa knows....they have investments here...how much investments Nigeria has in South Africa, I know not!

Ignore the guy. Nigeria is gradually moving towards the right direction and by next year the recession will be over. Naira is now gaining value over Dollar for a couple of days running.

Adagworo:
owerri is now competing with waste dump site.

what happened to owerri d neatest city then.. d commissioner of environment should be cautioned